Bulgarian Development Bank to Provide Liquidity to Agri Credit Unions
Daniela Bobeva, Deputy Prime Minister in charge of economic development, has presented a new instrument of the Bulgarian Development Bank (BDB) in the sphere of agriculture.
Speaking Friday in Parliament, she said that a special instrument was being developed through which the BDB would provide liquidity to credit corporations which brought together over 4000 agricultural producers, mostly small and middle-sized agricultural farms.
Bobeva, as cited by the Bulgarian Telegraph Agency, made clear that she had had a meeting with the Bulgarian Association of Cooperative Credit Organizations on the matter.
She argued that the measure would encourage the integration of the production for the purpose of domestic sales and for exports carried out in cooperation with the Ministry of Economy.
Bobeva said that the measure was expected to yield significant results in the sphere of agriculture, including industrial crops, as early as this season.
She informed that the first projects which were to be financed using this new product of the BDB were ready.
- » Average Wage in Bulgaria Increased 4-fold in 2000-2015
- » Bulgaria Wins “Most Impressive Borrower in CEE” Award
- » Over 1 Million Bulgarians Have Monthly Income of up to BGN 340
- » Bulgaria, World Bank Discuss Sustainable Growth Policies
- » Bulgaria’s Finance Ministry Boasts Successful Placement of 5-Year BGN-Denominated Govt Securities
- » Bulgaria Can Offer Favorable Investment Conditions to Qatar – Minister Goranov